Just an add on to Tokenz post to address Noahs query: I read yesterday that 118 needed to hold as that was the breakeven for x%(cant remember)of recent investors.The analyst predicted sell pressure below this point,I guess not expecting new investors to go too far into the red. Its not something I would use,outside of gaining a general gauge of sentiment etc. Im sure there would be an indicator that could be monitored.May be an interesting add on at the highs.Some variation of open interest perhaps?
LOLOLOLOLOLOL!!!!!!!!!! Now you guys are scrambling with after-the-fact explanations to save face, for the correction I’ve been projecting for weeks — while you were busy shamelessly pumping it??? @semperfrosty @Tokenz @NoahA @johnarb too afraid to show your face, or just too distraught watching the delta of your calls get obliterated beyond repair??? You clowns are eroding the credibility of the site with your inneptness. This is supposed to be ELITE traders not ERRONEOUS traders — it’s embarrassing for the rest of us.
118K means nothing lol… same as 119K, 117K, or 116K — This obsession with absolute price levels is absurd. Markets don’t magically pivot at round numbers just because someone posts a chart with “support” lines. It’s price action and flows that matter — not arbitrary digits.
I didn't want to share this earlier, but oh well, lets get it out there and we can see if he was right. Peter isn't a bitcoin guy exactly, but you can't argue with his long career and technical analysis skills. The good thing is that if he is right, he still sees 500k eventually, but just not in the time frame that everyone else thinks. I do personally think that Bitcoin really needs to get going soon if we see 200k by year end. But saying all that, Ben makes a good argument for a drop in September, but then off to the races. So I guess by end of September, we should get some sense of how this last quarter will go.
I've been telling you clowns this shit for months lol. These talking heads are probably following my posts lol.
More meaningful to a market that trades everyday is a MA 365 (which is @ $93k rising, rising, rising):- Notice RSI(2) and DTOSC getting ready to turn back up higher. + + + MA 200 is sort of arbitrary to even use on stonks - which is where the practice originated. Number of trading days in a typical year = 251 is more logical. But it's an odd number so people look at it .... oddly.